Uganda’s list of the rich and famous would be incomplete without Alykhan
Karmali and Amirali Karmali. This duo, popularly known as the Mukwanos, is
the most successful father and son business partnership today.

As is the norm with the rich, it is not easy to establish their bank
balance, but with more than 10,000 employees on its payroll and payment of
over Shs 40 billion in taxes annually, it’s safe to assume that the Karmalis
will not starve even if they chose not to work another day.

Like many tycoons, the Karmalis neither like to talk about their wealth,
careers nor their family history.

However, a recent article in the East African newspaper gives an insight
into how they made their money.

Legend has it that a Mr Ali Mohamed Karmali, a pioneer Indian Investor who
came to Uganda in 1904, laid the foundation of the empire.

After working as a shop assistant in Jinja, he shifted to Mbarara, before
settling in Bukandula, in Mpigi district, where in partnership with other
Asian families, he did a roaring trade in cotton and coffee.

Mr Karmali was reportedly so popular with the locals that they nicknamed him
Mukwano gwa bangi (a friend of many),” later shortened to “Mukwano”.

It is also here that Mr Amirali Karmali was born in the mid-1930s.

The business took off when the family moved to Fort Portal, where the young
Karmali, acquired a second-hand truck and begun to transport produce for
sale in Kampala.

Soon after, he expanded to western Uganda and some areas of eastern Congo
and thereafter moved to Kampala, where he opened his first shop under the
business name Egesa Commercial Agencies.

In 1972 the then President, Idi Amin got his infamous dream – in which God
commanded him to expel an estimated 80,000 Asians and redistribute their
assets to indigenous Ugandans.

Karmali isn’t willing to discuss this sad chapter in the history of Ugandan
Asians.

However, other sources claim that he never went into exile. That he was
‘hidden’ by good Samaritans for a number of years.

While many Asian businesses were looted and taken over in the late 70s
Mukwano was able to rebuild his business and in the early 80s established
Mukwano Enterprises Ltd., which later expanded to include Mukwano Industries
(U) Ltd.

In 1995 Mzee Mukwano relinquished control of the Group to his son, Alykhan
Karmali and became its chairman. He now spends most of his time in Fort
Portal, growing and processing tea for export.

The Madhvanis
Roni, Manubhai, and Prataphbhai Madhvani

The name Madhvani conjures images of luxurious and expensively furnished
mansions in sprawling estates, company jets, and lots of cash in the bank.

And its presence is not just felt here in Uganda. The internationally famous
Forbes Magazine regularly lists the Madhvani family as one of the richest in
the world.

Like the Mukwanos, Muljibhai Madhvani, a pioneer Indian investor who came to
Uganda at the turn of the last century, built the Madhvani empire from
scratch.

By the time of his demise, the Madhvani’s owned Kakira Sugar Works, tea and
sugar estates, schools, colleges and recreational centres.

By then, the Madhvani empire had grown so big and controlled about 10% of
the country’s exports.

Their fortunes took a plunge in the 70s, when former President Idi Amin
expelled the Asians.

The directors; Manubhai and Prataph joined the Asian exodus and fled to
Britain.

In the 80s, the family returned to Uganda, repossessed their property and
rebuilt the business. The rest, as they say, is history.

The Madhvani group is one of the largest employers with more than 10,000
employees on its payroll. Among its possessions are Mweya and Paraa Safari
Lodges and Kakira Sugar Works.

Nile Breweries, under their wrap for a number of years, was however sold to
South African Breweries in 2001.

Sudhir Ruparelia,
Chairman, Ruparelia Group of Companies
Mr Sudhir Ruparelia
There is a rumour that has been circulating the grapevine—that property
mogul Sudhir Ruparelia owns half the city of Kampala.

He usually laughs whenever he is asked about it and says it’s a “big lie”
spread by his competitors.

However, if you made a count of his investments, it is easy to see why
people continue to whisper behind his back.

Sudhir owns a building on almost every busy street in the city; most of them
situated in prime locations.

No one, (except himself, and he doesn’t talk much about it), knows how
Sudhir made his money.

But what we know is that before the 90s, he was not among the wealthiest in
Uganda. Some say Sudhir hit a jackpot in the Premier Lottery, while others
have wild stories that he struck gold while doing kyeyo in the UK.

Bur Sudhir says the secret to his success is: hard work, persistence and a
bit of luck.

“To be successful, you should make sure you achieve your goals, and never
give up. There are so many road blocks but you must continue with a strong
determination,” he says.

Whatever the origin of his riches, Sudhir seems to have it all; flower
farms, hotels, resorts, banks, country clubs, et al.

His estate, encompassed in the Ruparelia group, is one of the biggest in the
country.

Imperial Finance and Insurance, Didi’s amusement park and Dembe Car sales
are the other big business names associated to Karim Hirji.

According to our information, he started small - by selling textiles and
spirits. His first shop, Dembe Enterprises, was then located on Luwum Street
just before Mukwano Arcade.

From just a one-man show, his business has expanded quickly and now includes

a car dealership under the umbrella name of Dembe Group of companies.

Always one to shoot for the moon, Karim is reportedly constructing the first
seven star hotel in Uganda, at the Imperial Resort Beach Hotel, Entebbe.

James Mulwana

Nearly every one in ten Ugandans has used a nice pen, plastic mug, basin or
jerry can. The man behind it all is none other than James Mulwana, founder
and owner of Nice House of Plastics.

He is not just one of East Africa’s finest Chief Executive Officers (CEO),
but he is also one of the most successful businessmen in Uganda.

Some sources claim that he was once a bouncer at the then famous Suzana
nightclub in Nakulabye, some decades ago, before lady luck smiled at him.

Mulwana was an early bloomer and got involved in the import-export business.
At one time, he ran a mail order business, exporting wooden combs to
Shepherds’ Bush in the United Kingdom.

Some say, life for Mulwana would have probably followed much the same
routine had it not been for his friend, Dr William Kalema, formerly the
Chairman of Uganda Manufacture’s Association. Kalema predicted, rightly so,
that manufacturing was the future for the development of emerging economies
like Uganda.

He reportedly introduced Mulwana to Chloride, a British company that was at
the time looking for partners in Uganda.

The company opened a motor battery manufacturing line in Kampala, with
Mulwana as managing director.

Apart from the Battery company, Mulwana set up Ship Tooth Brush (renamed
Nice House of Plastics), the first company to manufacture toothbrushes in
Africa.

The battery line shut down at the height of political instability in the 70s
and early 80s but re-opened soon after peace returned to the country.

The Nice product line has now diversified into tableware, packaging and
knapsack sprayers. The factory sells 12,000 batteries a month and has made
pile for Mulwana.

But that’s not all Mulwana owns.

In 1986 he started Jesa Mixed Farm with a seed herd of 82 Friesian cows,
which have now multiplied to thousands. In 1994, he added a milk processing
plant.

In 1992, he entered a partnership with some German businessmen and
established Nsimbe Estates, now one of the country’s biggest exporters of
cut flowers.

In his own words, Mulwana once told the East African newspaper thus: “his
success is the contribution of many people”.

Dr Martin Aliker

If being a chairman of board of directors were a profession, Martin Aliker,
would easily be the best in the field.

Mr Aliker is on so many company boards: The Monitor Publications, Uganda
Breweries—the list is long. He has practically made a career out of it.

A former minister in the NRM administration, Aliker has built up a
reputation as an honest and diplomatic person.

But while he might not own a flourishing business empire, he owns sizeable
shares in Uganda Breweries and Coca-Cola, whose dividends, we hear are
enough to keep three future generations of Aliker in comfort.

Dr William Kalema

He is not only James Mulwana’s friend and former chairman of Uganda
Manufacturers Association, but he is also a successful entrepreneur in his
own right.

His company, Simba Blankets is the most successful blanket manufacturing
company in Uganda.

Edward Mperese

Little is known about this reclusive tycoon, although he has been around and
running a successful business since the mid 1980s.

Apparently, he started off with a wholesale shop, down town Kampala Road and
today is the proud owner of a number of tourist hotels, inns and lodges.

His trophy collection includes the famous Lusam Inns, and Samalien hotels,
named after son Lumansi and daughter Samali.

John Ssebana Kizito

Kampala’s mayor is not only charged with keeping the city clean and taking
care of the capitals’ drainage system, he also has a knack for business.

His Sure House on Bombo road is a hot property in the city and is making the
good mayor a tidy return on his investment.

But that’s not all the property that Ssebana owns. He’s got other prime
buildings scattered all over the city as well as Statewide Insurance
Company. He was also once a partner in Inter-state Insurance.

Gordon Wavamunno

In the 1960s, this entrepreneur started off driving a special Hire taxi. In
his Biography, he says he owes his success to his adopted strategy of
“flexible business diversification by putting my eggs in as many baskets as
possible”.

According to Wavamunno, he has followed a flexible and varied approach to
doing business - thus his success.

Since his luck in the 1960s, Wavamunno has ventured into a variety of
businesses: transport, insurance, banking, trade, tourism, entertainment,
the electronic media, property development, manufacturing and farming.

So far his Mercedes Benz franchise is one of the most popular in the
country.

Wava as he is popularly known started out with a taxi hire service in his
hometown, Mbarara and later on diversified to a bus service, which he named
Rugaaga Bus Service.

This used to link his village, Rugaaga to Mbarara town. He later on moved to
Kampala and started up another bus company, which collapsed and he moved on
to Spear Touring Safaris Ltd the forerunner of Spear Motors.

He was not so lucky in the tourism sector due to the turbulent 1970s but
that did not stop him. He still owns a fleet of tankers and trailers that
transport goods to and from Mombasa.

He’s one of the quiet tycoons. He keeps out of sight and hates showing off
his wealth. But when he walks into a room, his very presence whiffs of
wealth.

Shire is the owner and CEO of Gateway, one of the largest bus companies in
the country - with more than 100 buses operating all over Uganda.

Gateway is also the only Ugandan company that operates a service to Kenya.

Born in Tororo, Shire, a Somali by origin started his career in the
transport industry, ferrying passenger in a blue Peugeot 504 car along the
Tororo – Malaba highway.

Besides this, he also had a grocery shop in Tororo town, and would sell
sodas and ice (barafu) to travellers.

Todate he still owns the shop.

With profits from the Peugeot and the shop, Shire bought a kamunye and a
trailer. Years later, he established the Gateway Bus Company, which is a
runaway success.

Captain Roy
Dairo Air

His AfricaOne venture may have been one of the aviation industry’s most
spectacular failures, but the end is still a long way off for Captain Roy.

His Dairo Air Cargo is the biggest cargo airline in Africa, and is making
him tons of cash. The flight captain also owns the Conrad Plaza on Nasser
Road and has also become a big player in the horticulture industry.

Charles Mbiire

He is a big shareholder in MTN- Uganda and owns a host of properties in
Kampala. Whereas he does not often draw attention to himself, we cannot
forget that it’s in Mbiire’s spacious mansion that Libyan leader Muamar
Gaddafi slept during his visit to Uganda.

Mohan Kiwanuka
Radio One, Oscar Industries

Most of us know his wife, Maria Kiwanuka, the MD of Radio One. But Mr
Kiwanuka is a real king in the business world.

Though he owns a host of businesses, Oscar Industries—his flagship is the
moneymaker.

They ran out of rich luck

Bassajjabalaba’s Cinderella dream cruelly crumbled.
Mr Hassan Bassajjabalaba
In some ways, the story of Hassan Bassajjabalaba’s rise to wealth is as
unreal as that of Cinderella.

Two years ago he rocketed from obscurity into the limelight after his
company, Yudaya International won a bid to redevelop the Constitutional
Square into a shopping mall estimated at $10 million.

Before then, little was known of the man who came to be popularly known as
Hassan B.
Even more puzzling, no one seemed to know how he had made his money.

News that he had in fact inherited a prosperous hides and skins business
from his father, was met with a lot of scepticism and disbelief.

The business reportedly started in the 1950s and expanded. Bassajjabalaba’s
company, Haba Group of Companies, was the biggest exporter of hides and
skins.

He made the most of his fortune while it lasted and bought a string of
hotels (White Horse Inn Kasese, Rena Hotel in Namirembe and Lake View
Regency Hotel in Mbarara).

Onto this, he added the City abattoir and Kampala University later renamed
Kampala International University.

It is rumoured that he owned a fleet of 720 cars, some of them with
personalised numberplates. He also had an interest in Uganda Meat Packers
and was planning to open several fuel outlets.

But while Cinderella successfully married her prince charming and lived
happily after, Bassajjabalaba’s empire slowly started crumbling - when the
Uganda Revenue Authority came calling and started investigating him for tax
evasion.

At the same time, the International Police (Interpol) was keeping an eye on
his business operations, following reports that he had failed to pay close
to $11million (Shs 20 billion) to some Italian businessmen.

When the story broke, Bassajjabalaba was reportedly very distraught. It was
rumoured that he spent days locked up in his house.

At the time, business analysts attributed his troubles to heavy loans and
his penchant for investing in assets that did not offer a quick return.

There are now whispers that Bassajjabalaba is quietly selling off his
acquisitions to repay the loans. It is not clear what is left of his empire
or how much control he’s got over his remaining assets.

Suffice to say that he enjoyed his place in the sun until the revenue people
demanded for their pound of flesh.

Mr Haruna Ssemakula
General Parts Uganda

No businessman has faded off the scene as much as Hajji Haruna Ssemakula.
The former General Parts boss keeps pretty much to himself these days.

Gone is the troop of business associates and well-wishers who used to crowd
him, and gone too is much of his wealth.

Semakula was part of the exclusive club of self-made millionaires who rose
to prominence at the advent of Museveni’s regime.

Legend has it that before he catapulted into the world of the rich and
famous, he was just a taxi driver, plying the Kampala-Busia route.

A near fatal car accident cost him his car and an arm. Soon he was up and
about and joined the exodus of Uganda business in Japan and started
importing auto spare parts.
Before long, he established himself as the largest supplier of Japanese auto
spares in Uganda.

In a bid to expand his business, he borrowed billions from Uganda Commercial
Bank, now Stanbic. Instead of putting the money to its intended use, he
reportedly gave a big chunk of it to buy favours from some bank and business
hot shots in town.

His kindness also proved his undoing.

He spent a fortune to promote his business and self. He often held weekly
draws, with eventual winners walking driving off in a vehicle.

Every Tom, Dick and Harry who entered his shop, along Ben Kiwanuka Street,
including those who did not have a single cent, would have a soda to quench
their thirst. While his hospitality is to be envied, it was eating away at
his business.

Semakula also made a name for himself at Makerere University, where he
became a Bill Gates of sorts.

Former students recall that he used to give them trucks full of sodas during
campaigns, and inter-hall cultural festivities.

Charities also reaped big from Semakula. At one time he donated a vehicle to
UWESO; as well as vast sums to orphanages and mosques.

When he failed to repay his loans in time, NPART took over the business to
recover some of the monies. Most of his assets; buildings and cars were sold
off leaving him with barely enough to maintain his lifestyle.

Semakula took the matter to court, but there is no end in sight yet—the case
is still dragging on, and it could be years before it’s fully resolved.

Kagimu Bazira

His name rings a bell, especially to the people of Entebbe, where he owns
prime property.

He is one of the lucky few that are born into money, which he reportedly
inherited from his grandfather.

But while it has set him up in a luxurious lifestyle, it was not enough to
buy him a seat in parliament in the late 1980s.

But his fortune has taken a dip and his once famous construction firm Bazira
Construction Company in Lutembe is no more.

“I can no longer be counted among the rich and famous businessmen in Uganda,
my company ran into trouble and legally is no longer in existence,” Bazira
told Sunday Monitor recently.

Thomas Katto

He stunned the business and social circles, last year, when it was announced
that he was bankrupt.

He dresses well, mixes with the ‘right’ crowd, oh, and he still has enough
cash to buy his buddies rounds of drinks at popular hangouts in town.

Some of his associates however swear that Katto has hit a dead end after he
sold off all his companies - but most importantly, International Credit
Bank, Sanyu FM and Sanyu TV

Boney Katatumba

He was a household name in the 1980s and early 1990s, thanks to a vigorous
ad campaign on UTV. His most famous business was Katatumba Academy.

Then there was the Katatumba airline, Hotel Diplomate in Muyenga and Black
lines House in the heart of the city.

These days you are likely to find Katatumba, also the honorary Consul
General of Pakistan in Uganda, at his offices at Black Lines House.

He seems preoccupied with trade between the two countries and talks very
little about his once mighty business empire—most of which has been sold or
leased out.

He might not be as visible or as influential, but our sources tell us that
Katatumba still has lots of cash.

Sulaiman Kiggundu

Whatever happened to him, only God knows! As soon as trouble knocked at his
door, he became a shadow of himself. In fact his more combative wives are
far more visible these days.
Mr Sulaiman Kiggundu
After a six-month stint in jail for bankruptcy, Kiggundu has slid out of the
limelight - since his release from Luzira prison.

Once the owner of Greenland Bank and Governor Bank of Uganda, he hit rock
bottom when his businesses were closed, liquidated and others sold off to
clear outstanding government loans.

Like Katto, Kiggundu might be down, but he is definitely not out. He is
still living good life, away from the prying eyes of the press and keeping
out of government’s hair.

New breed

Godfrey Kirumira

Of the famous Kirumira Towers. He insists that he is no tycoon. “I am still
borrowing money to expand on my business,” he says.
True.

But show us a millionaire who has never borrowed money and we will show you
a murderer who has never killed.

It’s interesting that for Kirumira, a successful businessman is one who is
no longer dependent on loans.

However, those with a business head on their shoulders know otherwise and
maintain that he is stinking rich.

Like Michael Ezra, Katumwa and the rest of the new breed, Kirumira rose to
wealth and prominence after the NRM ascended power in 1986.

The most prized businesses assets we know so far are Kirumira towers and
several fuel outlets (Shell and Gelp petrol stations).

We cannot also ignore his influence in Express Football club. He has been
known to lure players away from his rivals with extraordinarily fat cash
bonuses. To us, he has the markings of someone who has hit it big time.

Michael Ezra—sports philanthropist

His is a typical rags to riches fairy tale. Interestingly, no one seems to
know how Uganda’s newest and youngest (he is 30 years) millionaire made his
bucks.
Michael Ezra
In a recent press interview, Ezra’s father said he is as stunned about his
son’s wealth as the rest of us.

Apparently, it’s only Ezra who knows the fountain of his wealth, and right
now he is not talking. But he has promised to unveil the shroud of mystery
surrounding his wealth - when he is in the right mood for doing so.

For now, all we know is that he comes from a relatively poor family. Born
Michael Semakula, Ezra left Uganda 10 years ago and returned a millionaire.

Ezra has the typical rich man’s syndrome; he loves to show off and brag
about his wealth.

Currently, he is based at the Sheraton hotel where he has taken over the
entire Presidential Suite. He owns five customised Mercedes Benzes as well
as the very first Lamborghini in the country.

But unlike many rich men, who are solely concerned about their bellies, Ezra
likes to think of himself as a sports philanthropist.

He has bailed out the national boxing team The Bombers out of their
financial troubles, and he has also dipped into his wallet to bankroll the
national athletics team.

He footed the bill for last year’s Uganda Sports Press Association gala at
Hotel Africana, and also made a donation of Shs 15 million to the child king
of Toro, Oyo Nyimba Kabamba Iguru. His list of good deeds goes on and on.

Is he here to stay?

There is no telling the future. However, if things continue to move well,
and he does not get into trouble with the law like Hassan B and Haruna
Semakula, we are likely to see more blank cheques bouncing around (no pun
intended).
Mr Andrew Kassaga – Zzimwe
Andrew Kassaga – Zzimwe.

It is rumoured that Kassaga, popularly known as Zzimwe, started off in the
fish industry in Kibuye.

In the late 80s, he graduated to a hardware company, along Market Street,
and later set up Zzimwe Hardware and later Zzimwe Construction Company.

But those in the know claim that Zzimwe has scores of godfathers in the
political establishment - who continue to help him secure plenty of
lucrative contracts.

Lawrence Mukibi

Everyone in the education circles has heard of Mukiibi - of the St. Lawrence
schools.
The schools have become an empire in their own right, and today attract a
huge number of foreign and local students.

In 1992, Mukiibi started out with one branch, Progressive Citizens High
School located near the Kabaka’s lake in Mengo. It has since expanded to
four campuses at different locations.

They are flourishing and making pots of money for Mukibi. He is not just an
excellent headmaster, but he is also a smart businessman.

David Katumwa

His wealth remains a mystery. From vending old sports shoes, he now owns one
of the biggest sports shops in Kampala.
Mr David Katumwa
He is into sponsoring sports events and is now building a sports complex in
Kampala.

Moses Kalungi

His luck has been in owning property; the most famous being Kalungi Plaza,
in the city centre. If he owns any other big business complexes, then he has
kept them a secret.

Dick Kizito

He owns Kizito Towers, one of the city’s premier shopping centres and a host
of other businesses.

Mutaasa Kafeero

He is also a property mogul like Kalungi and Kizito and owns Mutaasa Kafeero
shopping centre in the heart of the city.

Haji Yusufu Matovu

Proprietor of YOUMA tiles.

Henry Bugembe

Owns Big Ways and prime property in the city.

Omar Mandela,

His City Tyres is one of the biggest and most successful tyre outlets in the
country. But he is mostly famous for his undisputed loyalty and financial
support to Sports Club Villa.

Before he faded off the scene, his Vita foam company was the biggest
manufacturer of mattresses in Uganda. He also co-owned COVMO motors, an
importer of spare parts and cars. But now, he has made a comeback and has
reversed his fortunes.